Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/GBP intraday bias lower, good to go short on rallies

  • EUR/GBP trades with a slightly bearish bias on an intraday basis.
     
  • The pair has broken 20-day MA support at 0.8584 on the hourly charts.
     
  • We see scope for test of 1-hourly 50 MA at 0.8558. Violation there sees next major support at 0.8550 (trendline).
     
  • EUR calendar remains absolutely data-quiet today, focus on German growth numbers due Friday for fresh momentum.
     
  • Strong resistance seen at 0.8596. Bearish invalidation only on break above.

Recommendation: Good to sell rallies around 0.8580, Sl: 0.86, TP: 0.8550/ 0.8520
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.